May 6, 2012

Prasatya family disposes Mitrabahtera

PT Patin Resources, that is controlled by Prasatya family, and an institutional investor, had placed their stakes in PT Mitrabahtera Segara Sejati Tbk (MBSS) and PT Ciputra Development Tbk (CTRA) worth Rp800 billion on Friday last week.

Those shares placement was arranged by CLSA. Mitrabahtera is a subsidiary that is controlled by PT Indika Energy Tbk (INDY).

Post the placement, Patin Resources holds 22.5% stake in Mitrabahtera. As of March 2012, Indika controls 51% stake in MBSS, Credit Suisse AG with 36.5%, and public shareholders with 12.5%.

Investor Relation Indika Energy Retina Rosabai confirmed that Patin Resources disposed its stake in MBSS. However, she did not know the reason behind the shares placement.

CTRA placement

In the same day, an institutional investor who did not disclose its identity sold 630 million shares in the property developer PT Ciputra Development Tbk (CTRA) at Rp750 a share worth Rp472.5 billion, a 6.25% discount.